FX.co ★ TSX Renews Record High

The S&P/TSX Composite Index made a slight gain of 0.1%, reaching a new high of 31,197 on Thursday. This marked the sixth consecutive day of increases, as investors considered the increasing likelihood of a Federal Reserve interest rate cut in December. The trading session was relatively quiet due to the Thanksgiving holiday in the United States. Delays in data releases from the US Census and the Bureau of Labor Statistics indicated weaker economic activity, prompting several officials from the Federal Open Market Committee to express support for a rate cut next month. This contributed to the ongoing market rally, though investor enthusiasm remained cautious. The technology and energy sectors were among the strongest performers, with notable gains from Celestica at 1%, Imperial Oil at 0.7%, and Cenovus at 0.4%. However, these gains were somewhat offset by declines in major mining stocks, which limited the index's overall growth.